Rockefeller Capital Management L.P. Purchases 22,269 Shares of Golar LNG Limited $GLNG

Rockefeller Capital Management L.P. lifted its position in Golar LNG Limited (NASDAQ:GLNG) by 38.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 80,892 shares of the shipping company’s stock after acquiring an additional 22,269 shares during the quarter. Rockefeller Capital Management L.P. owned 0.08% of Golar LNG worth $3,010,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in GLNG. T. Rowe Price Investment Management Inc. grew its holdings in Golar LNG by 253.7% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 2,306,379 shares of the shipping company’s stock valued at $85,821,000 after purchasing an additional 1,654,353 shares during the last quarter. Vident Advisory LLC lifted its stake in Golar LNG by 22.9% in the fourth quarter. Vident Advisory LLC now owns 8,149 shares of the shipping company’s stock worth $303,000 after purchasing an additional 1,521 shares during the last quarter. Empowered Funds LLC purchased a new position in shares of Golar LNG during the fourth quarter valued at approximately $2,682,000. SummitTX Capital L.P. boosted its position in shares of Golar LNG by 1.9% during the fourth quarter. SummitTX Capital L.P. now owns 81,844 shares of the shipping company’s stock valued at $3,045,000 after buying an additional 1,565 shares during the period. Finally, Summit Securities Group LLC purchased a new position in shares of Golar LNG during the fourth quarter valued at approximately $309,000. 92.21% of the stock is owned by hedge funds and other institutional investors.

Golar LNG Price Performance

GLNG opened at $49.75 on Monday. The firm has a market capitalization of $5.04 billion, a PE ratio of 36.05 and a beta of 0.02. The company has a debt-to-equity ratio of 1.14, a current ratio of 2.57 and a quick ratio of 2.57. The business’s 50-day moving average is $52.55 and its two-hundred day moving average is $46.98. Golar LNG Limited has a 1 year low of $35.02 and a 1 year high of $57.79.

Golar LNG (NASDAQ:GLNG) last released its quarterly earnings results on Thursday, March 26th. The shipping company reported $0.82 earnings per share for the quarter. Golar LNG had a net margin of 30.10% and a return on equity of 6.86%. The business had revenue of $137.55 million for the quarter. Research analysts anticipate that Golar LNG Limited will post 0.72 earnings per share for the current fiscal year.

Golar LNG Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Monday, June 1st were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, June 1st. This represents a $1.00 dividend on an annualized basis and a yield of 2.0%. Golar LNG’s dividend payout ratio is presently 72.46%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on GLNG. Weiss Ratings upgraded Golar LNG from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, June 23rd. Pareto Securities downgraded Golar LNG from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 21st. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $65.00 target price on shares of Golar LNG in a research note on Thursday, May 21st. Wall Street Zen downgraded Golar LNG from a “hold” rating to a “sell” rating in a research report on Saturday. Finally, BTIG Research reissued a “buy” rating and set a $67.00 target price on shares of Golar LNG in a research note on Wednesday, May 20th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, Golar LNG has an average rating of “Moderate Buy” and an average price target of $56.70.

Golar LNG Company Profile

Golar LNG Ltd. is a leading owner and operator of liquefied natural gas (LNG) carriers and floating infrastructure. The company specializes in the transportation of LNG on long-term and spot charters for major energy firms around the world. In addition to shipping, Golar LNG has broadened its services to include project development and the conversion of existing carriers into Floating Liquefied Natural Gas (FLNG) and Floating Storage and Regasification Unit (FSRU) vessels.

Since pioneering the first purpose-built FLNG conversion project, Golar LNG has been at the forefront of offshore gas monetization.